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Statement I: Every partner has unlimited liability in LLP. Statement II: Every partner has limited liability in General Partnership. - Commercial Applications

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Question

Statement I: Every partner has unlimited liability in LLP.

Statement II: Every partner has limited liability in General Partnership.

Options

  • Only I is correct.

  • Only II is correct.

  • Both I and II are correct.

  • Both I and II are wrong.

MCQ
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Solution

Both I and II are wrong.

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Chapter 3: Ownership Structures - Partnership - EXERCISES [Page 40]

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C. B. Gupta Commercial Applications [English] Class 9 ICSE
Chapter 3 Ownership Structures - Partnership
EXERCISES | Q I. 11. | Page 40
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